Jindal Steel and Power saw one of its biggest revival in the year, where it grabbed the top position in S&P BSE 200 category after being one of the three worst performers in first quarter of last year. The stock is now all set to continue rallying further.

The recent price rally in the stock of Jindal Steel can be attributed to PM Modi’s investment push towards infrastructural development through infusion of

Rs 3.96 trillion for railways, roads and airports from April 2017. The brokerage houses upgraded its rating thereafter.

The stock almost doubled in 12 months, outpacing S&P BSE 200, and also peers like Tata Steel and JSW Steel. The reason being company’s unique abilities on making billets, reinforcing bars and rails, used by construction and automotive industries. Thereby, infrastructural push and housing for all by government is expected to enhance JSPL’s operations.

To cater to the rising demand, company is expected to expand capacity with a blast furnace plant commissioned in Odisha. The plant is expected to produce 3.2 million metric tons p.a., and thereby lead to an increase in sales by 30% over three years.

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